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Can you get first time home buyers credit if your home was a refinance from an inheritance?
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Credits and deductions
Kindly click on the TurboTax FAQ, this will assist you with your question above.
Additional Information:
CRA Information on buying, building, or renovating a house.
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Credits and deductions
Since you are not buying a house, but refinancing, you cannot claim The Home Buyers’ Amount (HBA).
As per CRA:
You can claim $5,000 for the purchase of a qualifying home in the year if both of the following apply:
- you or your spouse or common-law partner acquired a qualifying home
- you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time home buyer)
Please visit the following FAQ:
TurboTax:
New Home Builders’ Tax Credits and Rebates to Know About
Where do I claim the home buyers' amount?
CRA:
Line 31270 – Home buyers' amount
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